GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 1.33138 is certain.
Caution: A possible trend reversal in the direction of resistance at 1.34261 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Belt Hold’ chart pattern is detected. The candles form ‘Bearish Belt Hold’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34902 |
| 2nd High | 1.34555 |
| Next High | 1.34261 |
| Current Price | 1.34004 |
| Next Low | 1.33138 |
| 2nd Low | 1.33113 |
| 3rd Low | 1.33011 |
1.34261 – 1.34555 – 1.34902 – 1.33138 – 1.34004 – 1.34394 —
1.34042 – 1.34131 —
43.060678325219 – 52.742248500625 —
– —
1.34261 – 1772458200
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Belt Hold – – – – – – – – –